Cardano Falls 11% in Bearish Trade
Cardano was trading at $0.3706 on Tuesday, down 11.06% on the day. This was the largest one-day percentage loss since April 13. The decline has pushed Cardano's market cap down to $13.8641 billion, which makes up 0.59% of the total cryptocurrency market cap. At its highest, Cardano had a market cap of $94.8001 billion.
Trading Range and Recent Performance
Cardano traded in a range of $0.3706 to $0.4024 in the last twenty-four hours. Over the past seven days, Cardano has seen a drop in value, losing 11.98%. The volume of Cardano traded in the last twenty-four hours was $424.2468 million, or 0.51% of the total volume of all cryptocurrencies. It has traded in a range of $0.3690 to $0.4444 over the past 7 days. At its current price, Cardano is still down 88.04% from its all-time high of $3.10 set on September 2, 2021.
Comparison with Other Cryptocurrencies
Elsewhere in cryptocurrency trading:
- Bitcoin was last at $65,240.8, down 1.86% for the day.
- Ethereum was trading at $3,401.90, down 5.79%.
Market Caps:
- Bitcoin's market cap was $1,290.7200 billion, making up 54.70% of the total cryptocurrency market cap.
- Ethereum's market cap totaled $421.1722 billion, representing 17.85% of the total cryptocurrency market value.
Conclusion
Cardano's recent performance highlights significant volatility in the cryptocurrency market. While other major coins like Bitcoin and Ethereum have also faced downward pressure, Cardano's dramatic drop has been particularly notable.
By understanding these market trends and the shifts in market caps, investors can better navigate the volatile world of cryptocurrencies.
This article aims to provide clear and straightforward coverage of Cardano's recent performance while keeping technical jargon to a minimum.
